You are here: Home > articles > Forex > EUR/USD: plan for the European session on November 15. Euro may continue to rise amid progress under the Brexit agreement
EUR/USD: plan for the European session on November 15. Euro may continue to rise amid progress under the Brexit agreement
November 15, 2018 8:25 amVideo
Latest News
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
- Technical Analysis – EURGBP stuck around the crucial 0.8500 floor May 31, 2024
- Technical Analysis – USDCAD meets uptrend line again and again May 31, 2024
To open long positions for EURUSD, it is required:
Buyers of the European currency would need a breakthrough of the major resistance of 1.1344, as it did not go beyond and failed yesterday. Good news on Brexit can also support the euro, and the breakdown of 1.1344 will open new highs for traders in the area of 1.1375 and 1.1408, where I recommend taking profits. Also, long positions can be seen in case of a false breakout in the support area of 1.1307, where the 30-day moving average is located, or on a rebound from the low of 1.1266.
To open short positions for EURUSD, it is required:
Another unsuccessful consolidation above the level of 1.1344 with a return under it during the first half of the day will be a direct signal to open short positions in the euro, which will lead to a decrease in the pair to the area of the intermediate level of 1.1307, the re-test of which will pull down the euro to a low of 1.1266, where I recommend locking in profits. With a further upward trend, you can count on short positions after updating the high of 1.1375 or immediately on a rebound from the resistance of 1.1408.
Data on the balance of foreign trade in the eurozone, as well as statements by representatives of the European Central Bank, may limit the upward potential.
Indicator signals:
Moving averages
Trading is conducted above the 30-day and 50-day moving average, which keeps the upward trend in the pair.
Bollinger Bands
The upper limit of the Bollinger Bands indicator, located in the area of 1.1351, may limit the upward potential in the euro, but its breakdown will lead to a sharp increase. In case the euro declines, the lower limit of the indicator around 1.1280 will be a good level for purchases.
Indicator description
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: